What is Bail?
A bail bond is an insurance contract with a surety company that promises the court that a defendant will make all required court appearances. In exchange for the defendant’s release, the promise is that if a defendant fails to appear in court without good cause, and is not located within a certain timeframe, the full of amount of the bond becomes due to the court. In such a case, the indemnitor (the person signing to have the defendant released) has previously promised through their signatures, to be financially liable for the defendant should they fail to appear. This is why if as an indemnitor you have reason to believe that the defendant may not appear in court as ordered, you should contact Flash Bail Bonds immediately, without delay, day or night. Another bail bond company offers to post bail for 5% or even 3%.
What is the New Jersey Department of Insurance?
The New Jersey Department of Insurance (DOI) sets the standards and regulates the bail industry. That standard is that bail is 10% of the full amount of the bond, depending on the circumstances. A bail bond company offering less is usually speaking of the amount down to post a bond and financing of the remaining balance.This can be acceptable. A bail bond company doing business only for less than the amount established by the DOI should raise a lot red flags, to say nothing of skirting the law. Our question to you is: If a bail bond company is willing to break the law just to get your business, are you so sure that they won’t be willing to break the law in their dealings with you or the defendant? Working with Flash Bail Bonds, you’ve got one less thing to worry about.